Cancer test developer VolitionRx (NYSE:VNRX)) expects the final results from its 4,800 patient colorectal study early in 2016.
Initial results from the study published in September were encouraging, with a 67% detection rate for adenomas and higher percentages for other early and late stage CRC incidences.
“The full study results, which will analyse the sample set with an additional nine individual biomarker assays, will help us to optimise the panel for maximum sensitivity and specificity in the detection of colorectal cancer,” said Cameron Reynolds, chief executive.
VolitionRx’s NuQ blood tests use nucleosomics, which identify and measure nucleosomes in the bloodstream, an indicator that cancer is present.
"The aim is to commercialise its NuQ blood test for CRC in Europe in 2016," said Reynolds.
He added the company had also made "important progress in our pancreatic cancer program, where a panel of five NuQ biomarker assays distinguished 92% of cancer cases with inclusion of the classical CA19-9 cancer biomarker”.
For the quarter to September, VolitionRx reported a net loss of US$2.96mln, or $0.16 per share, compared to a loss of US$5.89mln, or $0.44 per share a year ago.
Cash and cash equivalents at the end of September totalled US$6.85mln.
Shares in New York eased 8.89% to US$3.79 each.